PJT Partners (NYSE:PJT) Raised to “Buy” at Wall Street Zen

PJT Partners (NYSE:PJT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the company. BMO Capital Markets started coverage on PJT Partners in a research note on Friday, October 3rd. They set an “outperform” rating and a $205.00 target price for the company. Evercore ISI set a $180.00 price objective on PJT Partners in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $185.50.

PJT Partners Trading Down 0.9%

PJT Partners stock traded down $1.44 during mid-day trading on Friday, hitting $166.83. 282,555 shares of the company’s stock were exchanged, compared to its average volume of 242,229. PJT Partners has a 1-year low of $119.76 and a 1-year high of $190.27. The stock has a 50 day moving average of $177.22 and a two-hundred day moving average of $168.09. The stock has a market cap of $4.06 billion, a P/E ratio of 25.67 and a beta of 0.79.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.61. The company had revenue of $447.09 million during the quarter, compared to the consensus estimate of $386.76 million. PJT Partners had a return on equity of 30.29% and a net margin of 10.75%. As a group, research analysts predict that PJT Partners will post 6.2 EPS for the current fiscal year.

Hedge Funds Weigh In On PJT Partners

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its stake in shares of PJT Partners by 31.1% in the 1st quarter. Voya Investment Management LLC now owns 17,429 shares of the financial services provider’s stock valued at $2,403,000 after purchasing an additional 4,136 shares during the period. Jump Financial LLC bought a new position in shares of PJT Partners during the 1st quarter worth approximately $802,000. Sierra Summit Advisors LLC acquired a new stake in PJT Partners in the 1st quarter valued at $578,000. Virtu Financial LLC bought a new stake in PJT Partners in the first quarter valued at $392,000. Finally, Baird Financial Group Inc. bought a new stake in PJT Partners in the first quarter valued at $2,639,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.